Govt says no change in tariff value of edible oils
Continuing its efforts to arrest rising prices of edible oils, the government on Thursday decided not to change the base price for levying import duties on palm oil and soybean oil.
By PTI |
NEW DELHI: Continuing its efforts to arrest rising prices of edible oils, the government on Thursday decided not to change the base price for levying import duties on palm oil and soybean oil.
According to a notification issued by the Finance Ministry, tariff values of six palm oils and crude soybean oil have not been changed.
The tariff value of imported edible oils has not been revised since July last year. The base price or tariff value is fixed every fortnight to keep a check on under invoicing of imported oils.
The tariff rate for crude palm oil (CPO) remains at $ 447 per tonne, while crude soybean oil is $ 580.
The tariff rates for other oils are: RBD palm oil $ 476, other palm oils $ 462, crude palmolein $ 481, $ palmolein 484 and other palmolein 483.
However, the government increased the tariff value for brass scrap (all grades) to $ 4604 from $ 4,343 a month earlier.
Last month, the Centre had affected a 10 per cent customs duty cut on both crude and refined palm oil as part of the measures to keep the price line of essential commodities under check.
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